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Oct 28, 2013
10/13
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the child tax credit is another refundable tax credit, the second-biggest refundable tax credit. as big as theut earned income tax credit. the treasury and that the general office has reported on that as well, problems with that. it is also -- it has also been expanded. most recently in 2000 nine. so, it has many of the same problems. andit has overlapping income over low income range and also in middle and upper income. if you can get it up to about $100,000 in income. and then there are other educational-related refundable tax credits. and income him over range. they are all structured similarly. they have this phase in range and then a plateau and then it phases out. you get more and more subsidy as you work more and more, and then a constant level of subsidy over a certain income range and then the subsidy phaseout. and the phaseout ranges where you get the disincentive to work additional hours. so, there is really no effect on the economy. it is a wash. over the the fact that higher income range, those tend -- more productive workers. they earn more by definition. so on bala
the child tax credit is another refundable tax credit, the second-biggest refundable tax credit. as big as theut earned income tax credit. the treasury and that the general office has reported on that as well, problems with that. it is also -- it has also been expanded. most recently in 2000 nine. so, it has many of the same problems. andit has overlapping income over low income range and also in middle and upper income. if you can get it up to about $100,000 in income. and then there are other...
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Nov 4, 2013
11/13
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they returned it in the form of a tax cut. that was a 10 year tax cut. what we did not anticipate, of course, was what happened on september 11, 2001. we went from surpluses to deficits almost overnight. the tax cuts remained in effect. you are right that there should have been some revisiting of the tax cuts that went into effect. those tax cuts also allowed us to avoid of major recession. host: you bring up deficits. how much motivation is there right now to get a grant deal done? weather in this effort or a future effort -- with the u.s. just having posted its lowest deficit. guest: you're right. we just ended fiscal year 2013. of $680a deficit billion. i believe that is what the figure was. that was a significant 30% reduction from the previous two- year. -- from the previous year. this is taking some pressure off. eggs are improving. i would point out that part of the reason the deficit came down so significantly is that revenues went up 13%. spending went down two percent. the combination resulted in the deficit coming down. the difficulty is that,
they returned it in the form of a tax cut. that was a 10 year tax cut. what we did not anticipate, of course, was what happened on september 11, 2001. we went from surpluses to deficits almost overnight. the tax cuts remained in effect. you are right that there should have been some revisiting of the tax cuts that went into effect. those tax cuts also allowed us to avoid of major recession. host: you bring up deficits. how much motivation is there right now to get a grant deal done? weather in...
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Nov 1, 2013
11/13
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we all pay taxes. we are all connected to the irs in some way. from everything that i have heard, the privacy is actually very strong through healthcare.gov. so, it has not been a huge area of concern. another point to respond on, birth control -- that is an area that i think young people particularly were excited about -- the idea that you could get preventive care, including birth control, with no co-pays, it is a huge benefit to young people, and particularly young women. having gone to a school like georgetown that had an issue time, wherer a long it was actually providing it for the faculty, a lot of young people have just said that is fair. in this country it is an important benefit for women's health. the fourth issue she brought up was the deficit and aca may contribute. guest: the cbo scored that it would actually decrease the deficit. this law, if anything, reduces the deficit or is budget neutral. one of the ideas behind the law is we are going to bring health- care cost under control. we ha
we all pay taxes. we are all connected to the irs in some way. from everything that i have heard, the privacy is actually very strong through healthcare.gov. so, it has not been a huge area of concern. another point to respond on, birth control -- that is an area that i think young people particularly were excited about -- the idea that you could get preventive care, including birth control, with no co-pays, it is a huge benefit to young people, and particularly young women. having gone to a...
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Oct 30, 2013
10/13
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republicans don't want to raise taxes. todaythere are stories that the white house is open to not raising revenues and any deal they come up with and they are eyeing cuts to farm subsidies. ground.ld be "common " guest: that is correct. there's also the opening session of the long-awaited arm bill -- farm bill. this is the sort of thing that conference two committees can mesh their answers on and come up with answers for both. viewersve the background on this legislation. why has it not passed? guest: this year was the first -it is ait was due - five-year authorization bill. it was due to years ago. a bill passed the senate last year. not put his did bill on the floor last year. he put a bill on the floor this to defeatt went down and only when he separated it empathy -- and removed the food stamp portion didn't pass. what we have now going into conference is one bill that cuts $4 billion in food stamps and $39her one that cuts billion in food stamps funding. we have a huge gap of their. -- a huge gap there. house with nat
republicans don't want to raise taxes. todaythere are stories that the white house is open to not raising revenues and any deal they come up with and they are eyeing cuts to farm subsidies. ground.ld be "common " guest: that is correct. there's also the opening session of the long-awaited arm bill -- farm bill. this is the sort of thing that conference two committees can mesh their answers on and come up with answers for both. viewersve the background on this legislation. why has it...
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Oct 29, 2013
10/13
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i am sorry, sir, i do not want to pay more taxes, i barely make it as it is. in youw is your last day guys are taking a vacation again for another 10 days and i would like to know why, when there are so many things that have to be done in congress? guest: well, there is a schedule. as you know, we were supposed to be off two weeks ago when we had the travesty of trying to get the government act opening and. when people say vacation, i know i will be in my district working every day. most congressmen will be doing the same thing, regardless of which side of the aisle. this is not a vacation. people think that if we are not in washington we do not do anything. people have to speak for themselves, i can assure you that is not my cup of tea. your second question about harry reid, there is a problem in terms of revenue. there is a problem that we have in the deficit area the commitment to his cut the deficit in half, which is very good, we are going in the right direction. when you shut the government down and have a plan for sequester cut by five percent, it hurts
i am sorry, sir, i do not want to pay more taxes, i barely make it as it is. in youw is your last day guys are taking a vacation again for another 10 days and i would like to know why, when there are so many things that have to be done in congress? guest: well, there is a schedule. as you know, we were supposed to be off two weeks ago when we had the travesty of trying to get the government act opening and. when people say vacation, i know i will be in my district working every day. most...
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Nov 2, 2013
11/13
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i personally believe it is trying to rein them in because they have snake tax in the we weave- tags and they cobwebs. guest: that is what i think a lot of people in the united states believe, and that is what commerce is trying to address her now. they have seen as a result of the leak probably some lack of confidence or some worry about what the intelligence community is up to. so the congress has got to address this forthrightly to try to restore the american people confidence in what their intelligence services are up to because ultimately if the people don't support what is being done in their name, we are going to have major problems in our democracy. so the congress has got to be able to try and reconcile the imperative to keep the country safe from not only terrorists and the prospect of nuclear weapons spreading across the globe over time, but also be able to reconcile the very serious privacy and civil liberty issues that have arisen over the summer, and we have to find the right way to reconcile these two objectives. host: tim up next from ohio, independent line 30 good mornin
i personally believe it is trying to rein them in because they have snake tax in the we weave- tags and they cobwebs. guest: that is what i think a lot of people in the united states believe, and that is what commerce is trying to address her now. they have seen as a result of the leak probably some lack of confidence or some worry about what the intelligence community is up to. so the congress has got to address this forthrightly to try to restore the american people confidence in what their...